RUFRACO: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
RUFRACO
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€10,680
2024 · €70,433-€81,112
Equity
€2.1m
2024 · €2.1m-€10,680
Cash
€31,339
2024 · €113,119-€81,780
Balance sheet total
€9.6m
2024 · €9.8m-€144,885
Largest movements
Assets
- Current investments +€320,000
up €320,000, from €0 to €320,000
- Tangible fixed assets -€298,578
down €298,578 (-3.1%), from €9.6m to €9.3m
of which Land and buildings: -€274,373
Equity and liabilities
- Other debts -€132,681
down €132,681 (-1.7%), from €7.6m to €7.5m
Income statement
- Gross operating margin -€28,769
down €28,769 (-7.1%), from €406,423 to €377,654
- Depreciation +€26,082
up €26,082 (+8.4%), from €311,157 to €337,238
- Other operating charges +€16,971
up €16,971 (+46.4%), from €36,600 to €53,571
- Financial income -€9,481
down €9,481 (-78.3%), from €12,115 to €2,634
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€70,433
Gross operating margin
-€28,769
Depreciation
-€26,082
Other operating charges
-€16,971
Financial income
-€9,481
Financial charges
-€1,455
Taxes
+€1,645
Result 2025
-€10,680
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€276,880
Investment
-€358,660
Financing
€0
Cash 2024
€113,119
From operations (derived)
+€276,880
Net result for the year
-€10,680
Depreciation
+€337,238
Receivables within one year
+€89,451
Deferred charges and accrued income
-€4,925
Provisions
-€3,166
Trade debts
+€2,858
Tax, wage and social debts
-€1,216
Other debts
-€132,681
Investment (derived)
-€358,660
Investment in fixed assets (net)
-€38,660
Current investments
-€320,000
Cash 2025
€31,339
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €9,783,036 | €9,638,151 | -€144,885 | -1.5% |
| Fixed assets | 21/28 | €9,577,993 | €9,279,415 | -€298,578 | -3.1% |
| Tangible fixed assets | 22/27 | €9,577,993 | €9,279,415 | -€298,578 | -3.1% |
| Land and buildings | 22 | €9,419,367 | €9,144,994 | -€274,373 | -2.9% |
| Plant, machinery and equipment | 23 | €15,505 | €18,474 | +€2,969 | +19.1% |
| Furniture and vehicles | 24 | €143,121 | €115,946 | -€27,175 | -19.0% |
| Current assets | 29/58 | €205,043 | €358,736 | +€153,694 | +75.0% |
| Amounts receivable within one year | 40/41 | €89,451 | €0 | -€89,451 | -100.0% |
| Other amounts receivable | 41 | €89,451 | €0 | -€89,451 | -100.0% |
| Current investments | 50/53 | €0 | €320,000 | +€320,000 | |
| Cash at bank and in hand | 54/58 | €113,119 | €31,339 | -€81,780 | -72.3% |
| Deferred charges and accrued income | 490/1 | €2,472 | €7,397 | +€4,925 | +199.2% |
| Total equity and liabilities | 10/49 | €9,783,036 | €9,638,151 | -€144,885 | -1.5% |
| Equity | 10/15 | €2,119,890 | €2,109,210 | -€10,680 | -0.5% |
| Contributions | 10/11 | €2,200,000 | €2,200,000 | = | 0.0% |
| Capital | 10 | €2,200,000 | €2,200,000 | = | 0.0% |
| Issued capital | 100 | €2,200,000 | €2,200,000 | = | 0.0% |
| Reserves | 13 | €208,168 | €198,671 | -€9,498 | -4.6% |
| Tax-exempt reserves | 132 | €208,168 | €198,671 | -€9,498 | -4.6% |
| Profit (loss) carried forward | 14 | -€288,279 | -€289,460 | -€1,182 | -0.4% |
| Provisions and deferred taxes | 16 | €69,389 | €66,224 | -€3,166 | -4.6% |
| Deferred taxes | 168 | €69,389 | €66,224 | -€3,166 | -4.6% |
| Amounts payable | 17/49 | €7,593,757 | €7,462,717 | -€131,039 | -1.7% |
| Amounts payable within one year | 42/48 | €7,593,757 | €7,462,717 | -€131,039 | -1.7% |
| Trade debts | 44 | €6,890 | €9,748 | +€2,858 | +41.5% |
| Suppliers | 440/4 | €6,890 | €9,748 | +€2,858 | +41.5% |
| Taxes, remuneration and social security | 45 | €3,267 | €2,050 | -€1,216 | -37.2% |
| Taxes | 450/3 | €3,267 | €2,050 | -€1,216 | -37.2% |
| Other amounts payable | 47/48 | €7,583,600 | €7,450,919 | -€132,681 | -1.7% |
| Non-recurring operating income | 76A | €35,039 | €0 | -€35,039 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €311,157 | €337,238 | +€26,082 | +8.4% |
| Other operating charges | 640/8 | €36,600 | €53,571 | +€16,971 | +46.4% |
| Gross operating margin | 9900 | €406,423 | €377,654 | -€28,769 | -7.1% |
| Operating profit (loss) | 9901 | €58,666 | -€13,155 | -€71,821 | |
| Financial income | 75/76B | €12,115 | €2,634 | -€9,481 | -78.3% |
| Recurring financial income | 75 | €12,115 | €2,634 | -€9,481 | -78.3% |
| Financial charges | 65/66B | €248 | €1,703 | +€1,455 | +586.5% |
| Recurring financial charges | 65 | €248 | €1,703 | +€1,455 | +586.5% |
| Profit (loss) for the period before taxes | 9903 | €70,533 | -€12,224 | -€82,758 | |
| Transfer from deferred taxes | 780 | €3,166 | €3,166 | +€0 | 0.0% |
| Income taxes | 67/77 | €3,267 | €1,621 | -€1,645 | -50.4% |
| Profit (loss) for the period | 9904 | €70,433 | -€10,680 | -€81,112 | |
| Transfer from tax-exempt reserves | 789 | €9,498 | €9,498 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €79,931 | -€1,182 | -€81,112 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.